Perpetual Trader Sees $110M Short Liquidated as Market Rebounds, Unrealized Profit Drops $20M

A perpetual futures trader at address 0xD83...Fd7 had one-third of a $332 million short position liquidated around 3:00 a.m. on January 22 as the market rebounded, on-chain data show. The trader's unrealized profit fell from $24 million to $4 million, erasing $20 million in paper gains. After the liquidation, the trader added new short exposure and now holds $266 million in short positions.